NEWS AND INSIGHTS
Our latest thoughts
Put your feet up and enjoy our insights and thoughts on this and that. When a little bit of discussion and direction makes all the difference.
Understanding lease classifications in Canada
In Canada, leases are classified as either capital leases (finance leases) or operating leases, each with distinct accounting and tax implications. The classification impacts how businesses record leases on financial statements and manage tax deductions. A capital lease, also known…
Benefits of corporate investments in Canada
Corporate investments in Canada offer a range of advantages for businesses, including tax benefits, asset diversification, and long-term financial growth. One of the primary benefits is the tax advantages corporations receive. Canadian corporations enjoy lower tax rates on passive investment…
T5018: Tax reporting for construction payments
A T5018 (Statement of Contract Payments) is a tax form used in Canada by businesses in the construction industry to report payments made to subcontractors. It helps the Canada Revenue Agency (CRA) track income earned by contractors and ensure proper…
Maximizing retirement savings with an Individual Pension Plan (IPP)
An Individual Pension Plan (IPP) is a specialized retirement savings vehicle designed primarily for business owners, incorporated professionals, and key employees. It offers several advantages over traditional retirement savings plans like Registered Retirement Savings Plans (RRSPs), making it an attractive…
“Tracy and her team were a welcome relief from the monthly burden of filling spreadsheets and hoping I got it right with my GST obligations and annual tax return preparation. Not only did she and her team free up my time to get on with the business of supporting my clients, she also made me see that “Knowledge is power”.
– Tricia Ryan, President, Focal Point Business Coaching
“Tracy took over from another bookkeeper. We have an accounting system that Tracy was not familiar with and had a very positive attitude adapting and learning the system. She is very detailed and always completes accounting procedures on time. Her attitude is excellent and she always informs me of what she is doing. When I ask her any questions I get a proper response.”
– Bryan Sullivan
“I have been a client of Fiscal Performance for the past year and have called upon their staff for tax advice & services for my small business returns. I recommend their service, highly and look forward to their continued service & support.”
– Dan De Jong
“Tracy and I have partnered on a number of projects over time. She is always enthusiastic and ready to devote 100% of herself to every task she undertakes. I know Fiscal Performance will take care of business with honesty, integrity and dedication.”
– Sandi H.
“I am truly glad we chose your company to do our work. Your staff are very professional and provide an excellent service to ensure our paperwork is kept up to date. I am happy to know your company is on top of things and makes my job easier. Again thank you for giving our company peace of mind.”
– Brenda D.
